China’s key stock market getting hit hard
China’s Shanghai stock index has been getting hit hard today. One of the reasons apparently is investors are withdrawing funds from the market so they can subscribe to Agricultural Bank of China’s IPO. Institutions will start subscribing this coming Thursday, while retail subscribes early next week.
The fall in the Shanghai index has helped pressure the EUR/JPY cross which is presently down at 108.80.

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Gerry..fwiw…China’s Take of the Sell Off tonight http://www.shanghaidaily.com/sp/article/2010/201006/20100629/article_441446.htm
cheers TN, sounds like its a few factors coming together, thks
key factor is Yuan appreciation huritng export at a time Europe crisis is far from over.
G’day Gerry,
Do you see this news will be cable bearish? Do you know of any sell stop orders in cable, if I may ask?
thanks
Gerry, Lots of stuff coming together…totally wild to watch tonight.
Hi Puks, last i heard stops though 1.5000 but that was yesterday. would be surprised if that had changed. I cant say i,m seeing anything specifically cable bearish. obviously there has been a general pick up in risk aversion (mainly surrounding china/shanghai share index sell-off) and that’s caused cable to slip a little this morning.
what other stuff is coming together TN?
Puks…A lot…thank you for my insipration for my article tonight…I will post link here after I write it.
For you Puks, would do more but getting sleepy..http://ibankcoin.com/king_of_the_pg/2010/06/29/come-together/